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Local News
Pan Trinbago Alarmed As NGC Cuts Steelband Sponsorships
Pan Trinbago president Beverley Ramsey-Moore says she is “extremely worried” about the National Gas Company’s (NGC) decision to cut sponsorship of three steelbands and its partnership with Pan Trinbago, warning the move sends a troubling signal to other state owned companies.
Almost $12M For Tobago Carnival
The 2025 Tobago October Carnival will be held at a cost of just under $12 million. This was announced by Tobago House of Assembly (THA) Tourism Secretary Tashia Burris as the festival was launched on Wednesday night at the Comfort Inn & Suites Orange Hill, under the theme, ‘Mud, Mas and Music’. It is scheduled to be held from October 24 to 26. During the launch event, Burris revealed the significant investment of the THA over the years into the festival.
UTC Launches Fund In Dominica
The UTC Global Balanced Fund Limited (UTC GBFL), a subsidiary of the T&T Unit Trust Corporation (TTUTC), has expanded operations into Dominica, marking a major step in its regional expansion strategy across the Eastern Caribbean. The event took place yesterday at the Fort Young Hotel and Dive Resort in Roseau.
SOLIS Records $12.56M In Revenue
For the first quarter of our 2026 Financial Year (May 1 – July 31, 2025), SOLIS almost doubled its net profit to $1.2 million for the quarter versus the corresponding period in its 2025 Financial Year. This was driven mainly by revenue growth of over 80% in Q1 FY26 vs Q1 FY25 which includes the results of our new subsidiary, Business Equipment & Interiors International Ltd (“BEI”).
T&T Chamber Supports Free Movement Of Labour
The T&T Chamber of Industry and Commerce has reaffirmed its support for regional integration and the free movement of labour, following high-level talks between the Ministry of Homeland Security and the private sector group.
TTMB, Credit Union League Team Up To Ease Homeownership
The Trinidad and Tobago Mortgage Bank (TTMB) and the Co-operative Credit Union League of Trinidad and Tobago have signed a Memorandum of Understanding (MoU) to formalise a partnership aimed at expanding mortgage solutions, project financing, and investment opportunities to credit union members nationwide.
Chambers Urge Reforms In Police, Customs, Economy, E-Services
Two of the country’s major business chambers are concerned that the country can no longer afford to delay decisive reforms as Government prepares to deliver the 2025– 2026 national budget.
Agostini Extends Prestige Takeover Offer
Conglomerate Agostini Ltd has extended for a third time the deadline on its offer to acquire Prestige Holdings Ltd (PHL), the restaurant operator behind KFC, Starbucks and TGI Fridays in Trinidad and Tobago. The offer, originally set to close in July, will now run until October 21, three months later than first intended.
Dhanpaul Expects $9B Deficit
Opposition Senator and former finance minister Vishnu Dhanpaul is expecting a significant fiscal deficit in the upcoming national budget. “(A deficit of ) about $9 billion. I hope I’m wrong,” said Dhanpaul, when asked about the 2026 budget, which is expected to be presented in the next month.
Regional News
Jamaica Reaches Record High Foreign Reserves Without Borrowed Funds
Jamaica’s net international reserves (NIR) exceeded US$6.15 billion at the end of August 2025, the highest-ever recorded with the country also maintaining that without relying on borrowed foreign funds, the Bank of Jamaica (BOJ) said on Thursday.
MMG Announces Major Upgrades
Mobile Money Guyana (MMG) on Thursday announced a major digital upgrade that will deliver stronger security, simpler transactions, and several new features for all users. The upgrade takes effect from October 6, 2025.
Morrison Named CEO Of Jamaica Stock Exchange
Livingstone Morrison has been appointed chief executive officer of the Jamaica Stock Exchange, effective September 8. Morrison succeeds Dr Marlene Street Forrest, who retired after more than two decades at the JSE.
Caribbean Countries Reinforce Support For Guyana In Race For IICA Director General Position
Ambassadors from the countries of the Caribbean Community (Caricom) reinforced their support for Guyana in the race for the director general position at the Inter-American Institute for Cooperation on Agriculture (IICA), welcoming Muhammad Ibrahim, the candidate proposed by the country’s re-elected president, Mohamed Irfaan Ali, to Washington.
Accelerating Guyana’s Digitalisation
The government’s commitment to accelerating Guyana’s digital transformation remains intact, according to President, Dr Irfaan Ali, during a meeting with information technology (IT) systems heads across all government agencies, at the Office of the President (OP), on Tuesday.
Noel Named Sagicor’s Executive VP Caribbean
David Noel has been appointed executive vice-president and chief operating officer, Caribbean, at Sagicor Financial, effective September 8. In his new role, Noel will report to Andre Mousseau, president and chief executive officer of Sagicor Financial.
President Ali Recommits To Slashing Guyana, CARICOM’s Food Import Bill
President, Dr. Irfaan Ali, has recommitted to accelerating efforts to modernise agriculture and drive trade, with the aim of slashing Guyana’s and by extension the Caribbean Community’s (CARICOM)’s food import bill.
SVG NIS Improves Profit During Six-Month Period
Prime Minister Dr Ralph Gonsalves says the National Insurance Services (NIS), the social security agency in St Vincent and the Grenadines, has recorded profits of EC$16.5 million (One EC dollar=US$0.37 cents) during the first half of 2025, compared to a loss of EC$5.5 million year on year.
Gov’t Maps Out Plan For Wales Industrial Zone
The government has mapped out plans for the Wales Industrial Zone, which will include a data centre, ammonia/urea (fertiliser) plant, and glass factory. According to information on the President’s official Facebook page: “The President was also briefed on the Wales Industrial Zone, where an updated map outlining existing and proposed energy infrastructure has been prepared, with land designated for a data centre, ammonia/urea plant, and glass factory.”
International News
Microsoft Averts EU Antitrust Fine With Unbundled Office And Teams Pricing
Microsoft avoided a possible hefty EU antitrust fine by offering customers reduced prices for Office products excluding Teams, a move on Friday that comes amid rising tensions with the United States over EU scrutiny of Big Tech.
Tesla Pivots To Robots As Investors Question Sales And Soaring Valuation
Elon Musk may be trying to pivot Tesla Inc. away from electric vehicles and toward humanoid robots, but to skeptical investors there’s no hiding from its stagnating sales and eye-watering stock market valuation that leaves little room for error.
Gold Rises Toward Record As ETFs Expand In Run-Up To Fed Meeting
Gold headed for a fourth weekly gain on expectations the Federal Reserve is poised to lower US interest rates, with prices aided by inflows into bullion-backed exchange traded funds.
Wall Street Futures Edge Lower After Rally, Indexes Set For Weekly Gains
Wall Street futures eased on Friday after the three main U.S. indexes scaled record highs in the previous session and were on track to log gains in a week of economic reports that solidified expectations for Federal Reserve interest rate cuts.
TSMC’s August Sales Climb 34% In Latest Sign Of Solid AI Demand
Taiwan Semiconductor Manufacturing Co. (TSM, 2330.TW) posted a 34% rise in August revenue, signaling sustained global demand for cutting-edge AI silicon.
Oracle Shares Jump On $500 Billion Cloud Revenue Prospects
Oracle shares soared about 29% before the bell on Wednesday after the enterprise software company forecast booked revenue from its core cloud business to exceed half a trillion dollars over the next few months.
Gold Rises Near Record As Traders Wait For US Inflation Prints
Gold advanced as traders awaited US inflation data, rising back toward the record price reached on Tuesday after jobs figures that strengthened the case for interest-rate cuts.
S&P 500, Nasdaq Futures Extend Gains After August PPI Data
S&P 500 and Nasdaq futures extended gains on Wednesday, after cooler-than-expected producer prices data for August boosted expectations for a September interest-rate cut from the Federal Reserve.
Anglo American, Teck Resources To Merge In Largest Mining Deal Of Decade
London-listed miner Anglo American and Canada’s Teck Resources are to merge, the two companies said on Tuesday, in what would be the biggest mining sector M&A deal in over a decade.
Reports
July 2025 Earnings News
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In July, First Citizens Group Financial Holdings (FCGFH) posted a year-on-year gain, with its after-tax profit rising 5.1% to TT$719.6 million, mainly due to growth in loans to customers and investment securities.
Local Equity Market Overview – Q2 2025
Domestically, real GDP grew 4.7% in Q3 2024, supported by advances in both the energy and non-energy sector. However, recent indicators monitored by the central bank point to a deceleration in non-energy sector growth and weakness in an otherwise improving energy sector, that could be attributed to a reduction in methanol and natural gas output. Furthermore, inflation eased slightly to 1.4% in May from 1.5% in April, and private sector credit and consumer lending have risen. Additionally, unemployment fell to 4.9% in Q1 2025 from 5.5% in the fourth quarter last year.
Earnings News – June 2025
In June, Scotiabank Limited (SBTT) reported a 5% or TT$17 million rise in after-tax profit. The increase was primarily driven by higher net interest income which was supported by an expanding loan portfolio. In contrast, CIBC Caribbean (CIBC) experienced a decline in half year revenue, despite similar loan growth. This was the result of weakness in other interest generating sources due to market volatility and lower U.S. benchmark interest rates. The combined effect of these factors and higher operating expenses weighed on performance.
Agostini-Prestige Holdings / Take Over Bid
Agostini Holdings has made an offer to acquire 100% of Prestige Holdings’ issued and outstanding shares through a share swap.
Earnings News – May 2025
In May, Guardian Holdings Limited (GHL) led gains in the banking and financial sector, posting a 229% or TT$536 million increase in profit. This surge was primarily driven by a one-off gain from the sale of Thoma Exploitatie B.V.
US Federal Funds Target Rate – May 2025
On May 07, 2025, the Federal Open Market Committee (FOMC) decided to maintain the target range for the federal funds rate at 4.25% to 4.50%. The annual inflation rate in the US eased for a second consecutive month to 2.4% in March 2025, the lowest since September, down from 2.8% in February.
Offshore Series Factsheets – March 2025
Pelagic Series Factsheets – March 2025
Earnings News – March 2025
In March, Scotiabank Trinidad and Tobago Limited (SBTT) reported a TT$2 million or 1% increase in f irst-quarter profit due to strong growth in total revenue, which can be attributed to higher interest earnings from the group’s interest-bearing assets. Joining SBTT, ANSA Merchant Bank (AMBL) delivered a positive performance, recording a rise in operating income and profit for the year, despite lower before tax profits, and thanks to a reduction in taxation expenses.